A matter of shared values and corporate strength
Following open heart surgery, Terry Yatsak started on a journey to find a successor who would carry on the practice he had built over a successful 30-year career. Here's how he found "as close to a perfect match as he could find" in two advisors from Ameriprise Financial.
"Even though I really enjoyed what I was doing, it was time to start looking at my options."
"Succession planning makes you realize you're turning over one of your most precious assets – your clients – to the care of another," says Terry. "I was very methodical in how I approached it." After much research and many meetings with several potential candidates, Terry chose advisors Jeff Hodges and Ed Muir from Ameriprise Financial as his successors.
"The more we talked, the more I saw that not only did we share basic core values, but Jeff and Ed also had a strong corporation behind them," explains Terry. "I had to know in my heart that my clients were safe with a company that would be around for years to come."
Now that the transition is complete, Terry says the feedback from his clients has been positive. "My clients didn't need a fancy New York Stock Exchange broker. They needed a compassionate financial advisor who would listen to them and give them good financial advice and maybe a cup of coffee. I found that in Jeff and Ed."
Client and advisor experiences may vary.